Island Aviation Services Limited (IASL), doing business as Maldivian (Q2, Malé), is inviting lessors to submit expressions of interest to provide either one A319-100 or one A320-200 on an operating lease for three years with delivery by September, a May 13 entry in the Maldives Government Gazette reveals.

Preference will be given to lessors who can commit to providing replacement/spare engines at no additional cost to IASL (except for maintenance reserves towards engine performance restoration and engine LLP replacement). They will also have an edge if they can provide aircraft that meet a set of criteria including having a full galley, being clear of all major maintenance events from the date of delivery, being painted in Maldivian’s livery at delivery, having at least 5,000 cycles remaining on each engine LLP until discard, and being equipped with at least 180 seats (for the A320-200) or 150 seats (in the case of the A319-100).

The airline is a fully state-owned limited liability company established in 2020 that operates a fleet of 25 aircraft, namely one A320-200, two ATR42-600s, two ATR72-600s, eleven DHC-6-300s, one DHC-8-200, one DHC-8-Q200, and seven DHC-8-Q300s. According to ch-aviation PRO airlines data, Maldivian operates to 22 airports in four countries. It has recently been in expansion mode, adding ATRs and discussing the acquisition of widebodies later this year to support new long-haul operations.

Aircraft owners, lessors, airlines, commercial banks, financial institutions, or any entity managed by or wholly owned directly or indirectly by such businesses are eligible to submit EOIs. Aircraft brokers and other intermediaries are not eligible to participate. Maldivian will require potential lessors to provide detailed data on their organisation, including audited financial statements for the past two years or, in the case of newly formed businesses, a certified certificate of net worth. The lessor will also be required to provide a substantial package of documents, records, and manuals before delivery and detail the minimum redelivery conditions.

Respondents are required to submit their proposals electronically by 1630L (1130Z) on May 29, 2024. Maldivian intends to complete its evaluation of the offers and notify the successful applicant by mid-June.